12.5.1 Enter into Leases or Licenses for Real Property

Policy Statement

All units must work with the University Office of Capital Programs, Real Estate, and Utility Services, which will develop, draft, and execute all leases and licenses for the use of real property. This includes both leasing off-campus space for the University of Illinois System occupation and licensing on-campus space for use by third parties. All leases for real property must be in accordance with the Illinois Procurement Code Article 40 (30 ILCS 500/40-5).

There MUST be a fully executed lease before a unit may occupy off-campus space or a fully-executed license before a unit may permit occupation of on-campus space by others.

Reason for the Policy

To ensure that applicable State of Illinois statutes and system and university policies related to real estate contracts are adhered to.

Applicability of the Policy

Applies to every real estate lease, license or easement with the exception of short-term leases less than one year with no renewal options, residential leases and leases for self-storage units.

Procedure

To enter into a lease or license for real property:

1. Plan ahead. It may require six months or more to complete a lease/license transaction, depending on the circumstances of the transaction.
2. Obtain the approval of the university dean and provost.
3. Submit to OCPRES. An email is acceptable. Include the C-FOP to which the lease expenses will be charged.
4. OCPRES develops, drafts, and executes the lease and/or license contracts.
5. The Board of Trustees or Comptroller delegate executes the lease or licenses.